Businesses are still up against it when it comes to applying for bank loans, even though Vietnam’s central bank has cut interest rates several times already this year.

Amidst the global uncertainties, the Central Bank has been buying back foreign currencies to ensure an adequate trade balance and economic stability.

Deputy Minister of Industry and Trade Do Thang Hai said the fall in global import demand for Vietnam's strong goods would negatively impact the country's exports this year.

After hitting a record low in 2022, Viet Nam’s money supply (M2) will rebound in 2023 and become an important driver for the recovery of the stock market, KB Securities Vietnam (KBSV) forecast.

As global central banks begin to neutralise loosened monetary policy, such as the Fed lowering rates, this is seen as positive signals as the world economy gradually recovers, minimising the risk of global economic crisis.

The US Trade Representative (USTR), in its report released on January 15 on findings in the Section 301 investigation of Vietnam’s acts, policies, and practices related to currency valuation, 

The need to ease policy rates in the near-term is unlikely, given the country’s still-robust growth and heightened foreign direct investment.